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How to fix the U.S. Credit Crisis

Posted March 12, 2008

"The global credit crisis isn’t just ‘a’ crisis - it’s ‘the’ crisis of our time." — Keith Fitz-Gerald

by Keith Fitz-Gerald

Baltimore – (TFN):  Last Wednesday, U.S. Federal Reserve Chairman Ben S. Bernanke told the Senate Banking Committee something that’s becoming more evident by the day, "I don’t know how to fix it."

Bernanke was actually referring to the mark-to-market accounting rules that may be forcing the banks to take bigger writedowns than are actually warranted. But in my mind, those valuation issues are at the heart of the subprime-mortgage and credit crises. So the fact that the head of our central bank has no idea how to address that very basic problem is incredibly unsettling.

You see, the global credit crisis isn’t just "a" crisis - it’s "the" crisis of our time. It’s so important that … Read on to learn more.

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